C TRADE CLIMATE PLEDGE TO AMERICAN BUSINESS ACT
Since its inception in the Philippines with the introductory support of the US Foreign Commercial Service Gold Key Program in 2003, C TRADE has successfully built eight renewable energy projects, that are operating in Batangas and Cebu provinces, which reduce carbon emissions by producing biogas and electricity from waste. The carbon credits from these waste-to-energy projects, certified under the Clean Development Mechanism (CDM) of the Kyoto Protocol to reduce carbon pollution and combat climate change, will be pledged in American Business Act.
- C TRADE plans to Pledge1 carbon reductions in Second Round2 for companies, with ongoing commitment from successful and sustainable CDM projects
- We respectfully request US Ambassador & USFCS to forward C TRADE’s Pledge from its Philippines projects, to support the above State Department effort.
- C TRADE plans to provide mechanisms for US Companies to take Climate Pledge offering additional emission reduction projects
1What Is the Pledge?
Announced by Secretary of State John Kerry and senior White House officials on July 27, the Pledge was taken by 13 of the largest companies in the United States to show their support for the Obama Administration Climate Change Plan. The 13 companies making the Climate Pledge in the first round of the American Business Act are: Alcoa, Apple, Bank of America, Berkshire Hathaway Energy, Cargill, Coca-Cola, GM, Goldman Sachs, Google, Microsoft, PepsiCo, UPS, and Walmart.
Specifically in taking the Pledge, the companies are:
- Voicing support for a strong COP21 outcome in Paris this winter;
- Demonstrating an ongoing commitment to climate action; and
- Setting an example for their peers and other US companies.
Within their individual pledges, the companies will take measures to improve their sustainability efforts and take steps to support work to decrease greenhouse gas emissions and use more renewable energy. The pledge represents more than $1.3 trillion in 2014 revenue and a combined market capitalization of at least $2.5 trillion.
“This fall, the Obama Administration will release a second round of pledges, with the goal of mobilizing many more companies to join the American Business Act on Climate Pledge. In addition, on October 20-21, Secretary Kerry will convene a forum at the State Department to highlight American leadership in climate investment and innovative solutions to our toughest climate finance challenges.”3 The above summary is from the July 27, 2015 – White House Press release:
MORE NEWS ON THE CLIMATE PLEDGE TO COMBAT CLIMATE CHANGE
American Business Act on Climate Pledge
27 July 2015: The White House has launched the American Business Act on Climate Pledge, supported by 13 of the largest American companies whose pledges represent more than US$1.3 trillion in revenue in 2014 and a combined market capitalization of at least US$2.5 trillion. The signatory companies are Alcoa, Apple, Bank of America, Berkshire Hathaway Energy, Cargill, Coca-Cola, General Motors, Goldman Sachs, Google, Microsoft, PepsiCo, UPS and Walmart. …..Read More
13 major US companies are pledging $140 billion to fight climate change
WASHINGTON (Reuters) – Some of the biggest U.S. corporate names on Monday offered their support – and billions of dollars in green financing pledges – to buttress the Obama administration’s quest for a global agreement on combating climate change. Google, Apple, Goldman Sachs and 10 other well-known companies joined the White House in launching the American Business Act on Climate Pledge, a campaign that the White House said would inject $140 billion in low-carbon investments into the global economy.
None of the companies involved in Monday’s announcement were from the fossil fuel sector of the economy, though the White House said there could be a second round of pledges in the fall ahead of the Paris conference. ,,, Read More
UNFCCC ANNOUNCES 7,000th CDM PROJECT IN THE WORLD – CTRADE’S CEBU PROJECT
“The 7,000th project will capture and destroy biogas created at two livestock (pig and chicken) farms in Cebu, Philippines, reducing annual emissions by 48,000 tonnes; the equivalent of removing 10,000 passenger cars from the road each year. The project will also reduce air pollution and odour, reduce instances of mosquito-borne illnesses, such as dengue fever, and increase job opportunities for the local community.” The Kyoto Protocol’s clean development mechanism (CDM), the international market-based tool that incentivizes greenhouse gas (GHG) emission reduction projects in developing countries, has passed the 7,000 registered projects milestone. There are registered CDM projects in 88 developing countries. Over the past 10 years the CDM has spurred more than USD 215 billion of low-carbon investment in developing countries, issued credits equal to 1.3 billion tonnes of CO2, and added more than 110,000 Mega Watts of renewable energy to global electricity grids.
For more information visit: https://cdm.unfccc.int/press/index_html
UNFCCC Communications Officer